For those who think steak is too affordable, the Loblaw’s grocery chain has an enticing new offers in its stores. You can now buy a standard cut of beef for $59.99!

Many shoppers took note of the expensive meat in this week’s Loblaws flyer, where it is advertised as Wagyu steak. Wagyu beef is an expensive Japanese variety from certain cattle breeds that produce meat with deep marbling said to give it unparalleled flavour. (Fans of the cooking show Iron Chef may be more familiar with Kobe beef, a variety of Wagyu.)

The costly steak surprised many shoppers, some of whom saw it advertised at an even higher price of $70 for a one-pound cut.

Loblaws flyer advertising $60 Wagyu steak

Steak was “now to be served with champagne and caviar,” tweeted Rudy Chase, a morning radio host for CKRV 97.5 in Kamloops, B.C.

Will the average grill master buy such expensive meat? They may not have to.

As Alan Middleton, professor at York University’s Schulich School of Business, told CBC News, advertising the pricey cuts of meat is more about competing against boutique shops that sell expensive foods and telling customers to think of Loblaws when they want quality.

“What this does is signal ‘oh boy — this is a place for really good meat,’” he said.